THE BLOOD BATH CONTINUES IN THE U.S. MAJOR OIL INDUSTRY
The carnage continues in the U.S. major oil industry as they sink further and further in the RED. The top three U.S. oil companies, whose profits were once the envy Continue Reading
Big Oil Loses Its Mojo
The oil bust is over and producers are spending again to boost output, but the industry’s giants are changing how they replenish their reserves. That might make Big Oil less Continue Reading
BP Needs Oil to Rise to $60 to Break Even
BP PLC said it needs oil prices to rise to $60 a barrel in order to break even, as the British oil giant ramped up debt levels last year to Continue Reading
OPEC Output Cuts End Big Oil’s Trading Bonanza
The oil-trading boom that cushioned the profits of Royal Dutch Shell Plc and BP Plc through the price slump of 2015 and early 2016 is over. BP said on Tuesday Continue Reading
Shell To Sell Another $5B In Assets, Misses Profit Expectations
Royal Dutch Shell ( NYSE:RDS.A ) is making “significant progress” on selling another US$5 billion worth of assets, chief financial officer Simon Henry said on Thursday after the oil supermajor Continue Reading
Tillerson Vow to Keep Away From Exxon Runs Into World of Oil
ExxonMobil’s global reach will pose a wealth of conflict-of-interest questions for former CEO Rex Tillerson now that he’s the US secretary of state. (Bloomberg) — Exxon Mobil Corp. boasts that Continue Reading
Shell’s Falling Debt Burden Shows Worst of Oil Slump May Be Over
Royal Dutch Shell Plc appeared to put the worst of the oil slump behind it as rising cash flow allowed Europe’s largest energy company to trim debt for the first Continue Reading
Shell Profit Falls Short as Rising Crude Costs Sap Refining
Shell CEO on 4th-Qtr Profit, Strategy and Globalization Royal Dutch Shell Plc reported fourth-quarter profit that missed analyst estimates after crude’s recovery drove up costs for refining while earnings from Continue Reading
It’s Still Not a Great Time to Be Big Oil
Crude prices may have stabilized, but it’s still not a great time to be Big Oil. Investors eliminated about $53 billion in market value for producers over three days as Continue Reading
Shell Sells $4.7 Billion of Fields as Disposal Push Accelerated
Royal Dutch Shell Plc, looking to pare debt swollen by last year’s acquisition of BG Group Plc, accelerated its drive to shed assets on Tuesday by agreeing to the sale Continue Reading